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Asian markets rally on 2023 outlook hopes, oil prices bounce
Asian markets rally on 2023 outlook hopes, oil prices bounce
Business and Economy
by  AFP

Asian markets rose Thursday, led by Hong Kong after the city's traders extended an impressive start to the year thanks to optimism over China's reopening and officials there making key policy changes to encourage investment. The upbeat mood has been boosted by signs that China is implementing policy changes to make it a more attractive investment location.

Amazon to cut more than 18,000 jobs, CEO says
Amazon to cut more than 18,000 jobs, CEO says
Business and Economy
by  AFP

Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic. "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy said.

Japan tuna price soars past $270,000 at New Year auction
Japan tuna price soars past $270,000 at New Year auction
Business and Economy
by  AFP

The top-selling tuna at Tokyo's traditional New Year auction sold for more than $270,000 on Thursday, nearly double last year's price, breaking a pandemic trend of slumping demand. Last year's top-selling tuna, bought by the same pair of bidders, went for just 16.88 million yen, with observers blaming subdued demand as a Covid wave ripped through Japan in early 2022.

Fed officials do not expect US interest rate cuts this year
Fed officials do not expect US interest rate cuts this year
Business and Economy
by  AFP

US central bankers do not expect it will be "appropriate" to start cutting interest rates this year with inflation remaining high, according to minutes of the latest Federal Reserve policy meeting released Wednesday. "No participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023," the meeting minutes added.